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Walton and Company is the managing investment banker for a major new underwriting. The price of the stock to the investment banker is $19 per

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Walton and Company is the managing investment banker for a major new underwriting. The price of the stock to the investment banker is $19 per share. Other syndicate members may buy the stock for $19.30. The price to the selected dealers group is $19.80, with a price to brokers of $20.20. Finally, the price to the public is $20.50. a. If Walton and Company sells its shares to the dealers group, what will the percentage return be? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Return % b. If Walton and Company performs the dealer's function also and sells to brokers, what will the percentage return be? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Return % c. If Walton and Company fully integrates its operation and sells directly to the public, what will its percentage return be? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Return %

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